SteadySense Company Profile

Background

SteadySense GmbH, founded in 2016 and headquartered in Seiersberg-Pirka, Austria, specializes in developing intelligent sensor systems aimed at simplifying medical care routines. The company's mission is to enhance healthcare through innovative, user-friendly solutions that provide continuous and precise health monitoring. SteadySense has made significant strides in the femtech sector, particularly with products designed to assist women in tracking fertility cycles and monitoring body temperature.

Key Strategic Focus

SteadySense's strategic focus centers on the development and commercialization of wearable medical devices that offer continuous health monitoring. Their core objectives include:

• Fertility Tracking: Providing women with accurate tools to monitor ovulation cycles, thereby aiding in conception planning.

• Continuous Temperature Monitoring: Offering solutions for real-time body temperature measurement to detect health anomalies promptly.

The company's primary markets include the femtech industry and broader healthcare sectors, targeting both individual consumers and medical institutions.

Financials and Funding

SteadySense has secured substantial funding to support its product development and market expansion:

• March 2019: Raised €6 million in a funding round led by eQventure, marking one of the largest investments in an Austrian B2C startup at the time.

• Subsequent Rounds: Engaged in later-stage venture capital funding rounds in July and December 2023, with the latest round still in progress as of 2024.

Notable investors include eQventure, Gartner, and Startup Creasphere. The capital raised has been allocated towards product development, clinical studies, and international market expansion, particularly into the U.S. and Chinese markets.

Pipeline Development

SteadySense's product pipeline features:

• femSense: A hormone-free ovulation tracker that utilizes a smart temperature measurement patch to identify a woman's most fertile days. The product has received medical device approval in the EU, with U.S. approval anticipated soon.

• STEADYTEMP®: A smart wearable thermometer designed for continuous body temperature measurement, aiding in the early detection of health issues such as postoperative infections. A clinical study commenced in August 2023 to evaluate its efficacy in early infection detection.

Technological Platform and Innovation

SteadySense distinguishes itself through proprietary technologies and innovative methodologies:

• Intelligent Temperature Measurement Sensor: Embedded in adhesive patches, these sensors provide continuous and precise body temperature readings over several days.

• Self-Learning Algorithm: The femSense app employs advanced algorithms to process temperature data, accurately identifying ovulation periods.

• NFC Technology: Utilized for seamless data transfer between the temperature measurement patches and smartphones, enhancing user convenience.

Leadership Team

• Werner Koele: Co-Founder, Chief Executive Officer, and Managing Director.

• Bernhard Ungerböck: Chief Financial Officer and Chairman.

• Peter Gasteiner: Co-Founder, Managing Partner, and Chief Operating Officer.

• Herbert Gartner: Senior Investor.

• Maximilian Seidel: Vice Chairman.

These leaders bring extensive experience in medical technology, finance, and business development, driving SteadySense's growth and innovation.

Competitor Profile

Market Insights and Dynamics

The global fertility tracking market is valued at approximately €2 billion annually, with significant growth potential driven by increasing awareness and demand for non-invasive, hormone-free fertility solutions.

Competitor Analysis

Key competitors include:

• Fertility Focus: Specializes in infertility diagnosis and treatment devices.

• Solace Therapeutics: Develops non-surgical treatments for bladder disorders, focusing on stress urinary incontinence.

• DYSIS Medical: Designs imaging systems for non-invasive detection of cancerous and pre-cancerous lesions.

• Neosense Technologies: Supplies continuous oxygen monitoring systems for intensive care units.

These companies offer various health monitoring solutions, positioning themselves as competitors in the broader medical device market.

Strategic Collaborations and Partnerships

SteadySense has established partnerships to enhance market reach and product distribution:

• Retail Partnerships: Collaborations with retailers such as BIPA and DocCheck Shop GmbH facilitate product availability in Austria and Germany.

• Medical Institutions: Engagements with organizations like the Austrian Red Cross support product credibility and adoption within medical communities.

Operational Insights

SteadySense's competitive advantages include:

• Innovative Product Design: The integration of advanced sensor technology into user-friendly patches sets SteadySense apart in the femtech market.

• Regulatory Approvals: Achieving medical device approvals in the EU and pursuing U.S. approvals demonstrate compliance with stringent health standards.

• Environmental Responsibility: The company's recycling program for used patches reflects a commitment to sustainability.

Strategic Opportunities and Future Directions

SteadySense aims to:

• Expand Market Presence: Focus on entering the U.S. and Chinese markets to capitalize on growing demand for fertility tracking and health monitoring devices.

• Product Diversification: Develop additional applications for their sensor technology, including hormone-free contraception and intelligent fever monitoring for children and clinical patients.

• Clinical Validation: Conduct further studies to validate product efficacy, enhancing credibility and adoption among healthcare professionals and consumers.

Contact Information

For more information, visit SteadySense's official website: www.steadysense.at

SteadySense GmbH is also ISO 13485 certified, ensuring that their products meet stringent medical device regulations.